A story currently causing a buzz within the cryptocurrency community revolves around an anonymous individual who has managed to transform an investment of just $1000 into a breathtaking sum of $400,000. The yield was acquired using the recent Tron-based memecoin, Sunwukong, facilitated through a new memecoin generator platform known as Sun Pump.
Blockchain analytics firm, Arkham Intelligence, picked up on this incredible transaction, going on to share intricate details while applauding the anonymous trader’s success. The trader, known by the identifier TDm2, saw his investment skyrocket to $403,187 following a profile picture change by Tron’s founder, Justin Sun, that aligned with the theme of the Sunwukong memecoin.
The Sunwukong memecoin draws its inspiration from a character named Wukong, a figure derived from Chinese mythology celebrated in the newly released video game, “Black Myth”. Sun Pump, the memecoin generator on the Tron platform, was used to create the memecoin, competing with the likes of Pump fun on Solana’s platform. Launched in August, Black Myth quickly became a celebrated game, already reaching over 2.2 million players on Steam.
Data from DexScreener reveals the impressive performance of Sunwukong, with its value surging from approximately $3000 to an incredible $17 million in a span of less than 12 hours. The memecoin’s value stabilized somewhat from its peak, with a slight drop of 1.6%, but remains in a promising position. As of this article’s publication, its price hovers around $0.0118, up by 24.0% in the last 24 hours, holding a market capitalization of over $12 million.
Interestingly, according to Tron scan data, the trader in question has not sold any tokens from this windfall as yet. The memecoin generator hosting Sunwukong, Sun Pump, has already generated $1 million in revenue in the 12 days following its launch. The platform aims to emulate the success of Solana’s Pump fun, which has grossed $95 million in revenue since its inception in January.
Despite the remarkable story of this trader, one should remember that memecoin trading, while potentially lucrative, is equally risky. Instances of double-digit losses are not uncommon in memecoin dealings; hence, it is advised to only invest what one can afford to lose.